This bill establishes the American Infrastructure Fund (AIF) as a wholly-owned government corporation to provide bond guarantees and make loans to state and local governments, non-profit infrastructure providers, private parties, and public-private partnerships for state or local government sponsored transportation, energy, water, communications, or educational facility infrastructure projects (Qualified Infrastructure Projects [QIPs]). The AIF may also to make equity investments in QIPs.

The Department of the Treasury, acting through the AIF, shall issue American Infrastructure Bonds with an aggregate face value of $50 billion. The proceeds from the sale of the bonds shall be deposited into the AIF.

The bill amends the Internal Revenue Code to allow U.S. corporations to exclude from gross income qualified cash dividend amounts received during a taxable year from a foreign-controlled corporation equal to the face value of qualified infrastructure bonds the corporation has purchased.

The bill prohibits allowance of:

a foreign tax credit for the excluded portion of any dividend received by a U.S. corporation, and

a deduction for expenses directly allocable to that excludable portion.

]]>2017-06-19T21:41:30ZIntroduced in House002017-03-22Introduced in HouseHR16121112017-03-23hspw02Water Resources and Environment Subcommittee1House committee actionsReferred to the Subcommittee on Water Resources and Environment.Committee2017-03-23hspw14Railroads, Pipelines, and Hazardous Materials Subcommittee1House committee actionsReferred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.Committee2017-03-23hspw12Highways and Transit Subcommittee1House committee actionsReferred to the Subcommittee on Highways and Transit.Committee2017-03-23hspw13Economic Development, Public Buildings, and Emergency Management Subcommittee1House committee actionsReferred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.Committee2017-03-23hspw07Coast Guard and Maritime Transportation Subcommittee1House committee actionsReferred to the Subcommittee on Coast Guard and Maritime Transportation.Committee2017-03-23hspw05Aviation Subcommittee1House committee actionsReferred to the Subcommittee on Aviation.Committeehswm00Ways and Means Committee2017-03-22Referred to the Committee on Transportation and Infrastructure, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.H11100IntroReferral2House floor actions2017-03-22Referred to the Committee on Transportation and Infrastructure, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.H11100-AIntroReferral9Library of Congresshspw00Transportation and Infrastructure Committee2017-03-22Referred to the Committee on Transportation and Infrastructure, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.H11100IntroReferral2House floor actions2017-03-22Introduced in HouseIntro-HIntroReferral9Library of Congress2017-03-22Introduced in House1000IntroReferral9Library of Congress2017-03-2216692019-02-12T19:45:31Z115StandingTransportation and Infrastructure Committeehspw00HouseReferred to2017-03-22T14:01:50ZWater Resources and Environment SubcommitteeReferred to2017-03-23T16:11:29Zhspw02Railroads, Pipelines, and Hazardous Materials SubcommitteeReferred to2017-03-23T16:10:58Zhspw14Highways and Transit SubcommitteeReferred to2017-03-23T16:10:23Zhspw12Economic Development, Public Buildings, and Emergency Management SubcommitteeReferred to2017-03-23T16:09:56Zhspw13Coast Guard and Maritime Transportation SubcommitteeReferred to2017-03-23T16:08:26Zhspw07Aviation SubcommitteeReferred to2017-03-23T16:07:31Zhspw05StandingWays and Means Committeehswm00HouseReferred to2017-03-22T14:02:00ZJohnK.6MDRep. Delaney, John K. [D-MD-6]D000620DDelaneyD00062021331.0.0Buy American requirementsCorporate finance and managementForeign and international corporationsGovernment corporations and government-sponsored enterprisesGovernment lending and loan guaranteesIncome tax exclusionInfrastructure developmentInterest, dividends, interest ratesPublic-private cooperationSecuritiesState and local financeTaxation of foreign incomeTransportation and Public WorksShort Titles as IntroducedPartnership to Build America Act of 2017Official Title as IntroducedTo establish the American Infrastructure Fund, to provide bond guarantees and make loans to States, local governments, and infrastructure providers for investments in certain infrastructure projects, and to provide equity investments in such projects, and for other purposes.Display TitlePartnership to Build America Act of 2017(Extracted from GPO) Short Titles as IntroducedPartnership to Build America Act of 2017Transportation and Public WorksIntroduced in House2017-03-22T04:00:00Zhttps://www.govinfo.gov/content/pkg/BILLS-115hr1669ih/xml/BILLS-115hr1669ih.xmlPartnership to Build America Act of 20172017-03-23T05:20:05Ztext/xmlENPursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.Congressional Research Service, Library of CongressThis file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.